QIP105: Seed 0VIX Lending Market with MAI from the DAO

0VIX is a new lending platform on Polygon enhanced by veTokenomics. It only supports assets priced with Chainlink oracles (currently WETH, MATIC, WBTC, USDC, USDT, and DAI).

0VIX is built by the core team behind GOGO protocol and has extensive FinTech and DeFi experience and is also backed by tier 1 funds and Polygon itself and will be announcing details about their funding round soon.

Seeding MAI into this market will earn the DAO $MAI and $0VIX yield.

• Borrowers are paying interest in $MAI
• The DAO/Depositors earn the interest and are subsidized with the protocols $0VIX token

The $0VIX token can be exchanged for ve0VIX and is used to vote for the $0VIX rewards distribution on the periodic/epoch base

If the proposal is approved, the initial capital injection from the DAO will be 100,000 MAI. QiDao will continually manage its supplied capital to maintain a balance between usage and affordability of borrowing MAI.

Motivation

• Increase revenue for QiDao
• Introduce MAI to new users
• Expand protocol TVL

Quorum Standards

The option with the most votes will be adopted.

Options

• Seed 0VIX
• Further discussions needed